February 26, 2003

Conditional immunity for Stolt NielsenThe Stolt-Nielsen Transportation Group (SNTG), a wholly-owned subsidiary of Stolt-Nielsen S.A., says it is cooperating with competition authorities in the European Union in connection with an investigation into possible collusive behavior in the intra-European inland barge industry.

"As noted in press releases last week," says a statement issued yesterday, "SNTG had previously reported that it is cooperating with competition authorities in the United States and the European Union in connection with investigations into possible collusive behavior in the parcel tanker industry."

"SNTG," says the statement, "has been granted conditional amnesty from prosecution and fines for violation of U.S. antitrust laws by the Antitrust Division of the U.S. Department of Justice under its Corporate Leniency Program with respect to parcel tanker operations. SNTG also has been granted conditional immunity from imposition of fines by the European Commission with respect to deep-sea parcel tanker and intra-European inland barge operations.
During the course of an internal investigation undertaken by SNTG, says the statement, "the company became aware of possible collusive behavior and notified the appropriate authorities. As a result, SNTG, its relevant affiliates and directors and employees, have been granted conditional amnesty from prosecution and fines, subject to the conditions of the amnesty programs, including continued cooperation.